It’s not often a fight against a former two-time UFC champion and Hall of Famer could be considered a losing proposition. However, those were Ricardo Lamas’ honest feelings about his now-canceled matchup with B.J. Penn.

Lamas (16-5 MMA, 7-3 UFC) was supposed to fight Penn (16-10-2 MMA, 12-8-2 UFC) in the featherweight headliner of UFC Fight Night 97 earlier this month. “The Prodigy” pulled out of the fight with an injury a little more than a week prior, though, forcing the organization to cancel the card entirely.

Lamas was left hanging in the situation, but was quickly booked for a UFC Fight Night 98 showdown with Charles Oliveira (21-6 MMA, 9-6 UFC), which takes place Nov. 5 at Mexico City Arena in Mexico and airs on FS1 following early prelims on UFC Fight Pass.

Oliveira, No. 11 in the latest USA TODAY Sports/MMAjunkie MMA featherweight rankings, is a more relevant and highly ranked fighter than Penn, and for that reason No. 6-ranked Lamas sees more upside with his new matchup.

“This is actually a better fight,” Lamas told “Fight Club” on SiriusXM. “B.J. has fought one time at 145 and he lost. He wasn’t ranked. People were kind of expecting me to blow past him or whatever. It was kind of a lose-lose situation for me. I beat the guy and it was, ‘Oh, you were expected to beat him. B.J. should be retired.'”

Granted, a name like Penn’s, even well beyond his prime years, is a solid addition to any resume, but Lamas said that’s where the benefits of the fight stopped. It wouldn’t move him closer to a title, and if the absolute worst happened and he lost the fight, Lamas’ would be 1-3 in his past four bouts and in need of some serious career rehabilitation.

“If I lose to the guy it’s like a million times worse,” Lamas said. “It was just a cool experience because I would be fighting such a big name, he’s a Hall of Famer in the sport and all that, that’s what would have been cool about it. But Oliveira, he’s ranked in the top-10 in the featherweight division so a win over him is a lot better for me.”

A main event fight against a legendary name like Penn is more than most fighters could hope or dream of for a career. Lamas is not at fault for the contest falling apart, but he’s hardly stressing about it, he said. Oliveira’s name doesn’t pop in the same way, but he’s a younger and likely much more dangerous opponent than Penn, and that gives Lamas all the motivation he needs.

“It will move me closer to the title shot and get my next fight with maybe a top-five opponent,” Lamas said. “Then I can be right there in title contention.”

Check out the video above to hear Lamas speak about the situation during a recent appearance on MMAjunkie Radio.

On March 19, 2011, 23-year-old Jon Jones brutalized UFC light heavyweight champion “Shogun” Rua to become the youngest titleholder in UFC history. But for Jones, it was only the start of a wild ride that at times spun out of control.